The policy, when finalised, will lay the road map for the country’s push towards renewable energy and reducing fuel imports, among other things
New Delhi: Niti Aayog, the government’s key policy think-tank is likely to place the much-awaited National Energy Policy document before Prime Minister Narendra Modi. The policy, when finalised, will lay the road map for the country’s push towards renewable energy and reducing fuel imports, among other things.
“Niti Aayog will present the integrated energy policy to PM in one or two months,” Niti Aayog Chief Executive Officer (CEO) Amitabh Kant said at an energy sector event here. The policy, which has been in the works since 2015, will replace the Integrated Energy Policy of the erstwhile United Progressive Alliance (UPA) government.
The broad objectives of the policy include enhanced energy independence, increased access at affordable prices, greater sustainability and higher economic growth. The policy is likely to focus on aligning energy prices with benchmarks in the international market to enable market driven prices and limiting subsidies to the identified beneficiaries.
The Aayog has proposed a common nodal energy ministry to streamline governance of the sector speed up decision making.
In another development, oil minister Dharmendra Pradhan, who was also present on the occasion, said profitability is the motto of government-owned Oil Marketing Companies (OMCs) but ensuring public interest is also their responsibility. He was speaking in the context of the centre’s decision last to ask OMCs to absorb a Re 1 per litre in the retail prices of petrol and diesel and not pass it on to consumers.
“When prices rise, it is everyone’s responsibility to look into consumer interest. Government companies are not just profit-making entities,” he said. With sky-rocketing domestic prices of petrol and diesel, the government had slashed excise duty on the two fuels by 1.5 p er cent and directed OMCs to absorb additional Re 1 per litre, fuelling questions over the government’s resolve to continue with fuel price deregulation.